Privatisations to peak

This year is tipped as the peak of the decade for privatisations throughout Europe, with 31bn-worth predicted by US investment bank JP Morgan.

Governments are expected to attempt to reduce debts through sell-offs before monetary union is introduced in 1999. Italy is top of the list with 12bn worth of sell-offs expected this year, followed by France, Spain and Germany. Next in line in the UK could be London Underground.